Gov't Housing Czar?

NEW -> Contingent Buyer Assistance Program
profette_IHB

profette_IHB

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Congressional Democrats have asked Prez. Bush to appoint a “mortgage czar” to deal with the wave of foreclosures expected over the next couple of years (about 1.7 million, give or take a few). Jack Kemp’s name was floated, but the White House pointed out that "We have a housing czar. His name is Alphonso Jackson. He's the secretary of (the Department of) Housing and Urban Development." So, it’s not clear whether this suggestion will go anywhere.

Also, legislation was introduced in the Senate to allow Fannie and Freddie to increase their investment holdings for one year. They’re also <em>still</em> pushing to allow Fannie and Freddie to buy jumbo loans.
 
<p>prof, I watched the interview with Frank yesterday. He said if Kemp was appointed, it would only be temporary, like "Queen for a day" :)</p>

<p>Also, he admitted he hadn't asked Kemp about it yet..... ? Also, he called the position a "Mortgage Czar", not housing czar. </p>
 
I am curious as to what they would expect this guy to do. Appointing a Czar is like hiring a public relations firm. All they can do is try to polish a turd.
 
Hey I hear the guy who was in charge of FEMA Michael Brown is available. Oh wait we can't blame him for being too slow since the government has already been behind the ball on this one. Yes let's create another agency that won't communicate with other agencies, that we pay for, that won't fix anything because a "czar" or "king" or what ever the eff you want to call it can't fix it. It's called economics stupid!
 
<p><a target="_blank" href="http://blog.inman.com/inmanblog/2007/10/dems-foreclosur.html">Symbolic politics</a>?</p>

<p><img alt="" src="http://blog.inman.com/photos/uncategorized/2007/10/03/dogandpony.jpg" /></p>
 
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